Ripple’s dollar-pegged stablecoin RLUSD has become a two-chain tug-of-war story, and Ethereum is winning the latest round. The token’s supply on Ethereum surged roughly 93% over the past 30 days, pushing the network’s share past the XRP Ledger for the first time since mid-2026.
Total RLUSD supply now sits at approximately $2.37B, with Ethereum holding about $1.33B (56.1%) and XRPL retaining $1.04B (43.9%).
The numbers behind the shift
The 30-day period saw aggressive minting activity. Roughly $1.39B worth of RLUSD was minted while approximately $606.8M was burned, producing significant net growth that landed disproportionately on Ethereum.
Of the $303.7M added to RLUSD’s market cap during that stretch, Ethereum accounted for $256.5M, or about 84% of the increase.
